A lot of people think that the investment market is dominated by young people.
They think that if you want to get into this industry, you have to be a young person, and you can’t afford to go out and buy a house.
It’s like, I’ve been to the movies.
I’ve had a nice apartment.
I don’t want to go to the clubs, I want to be in a nice place, have a nice car, have nice clothes, and have a little bit of money.
But the reality is, the average age of investors is actually younger than the average population, according to the Vanguard Group.
For the first time, millennials have surpassed the median age of those over 50 to make up almost half of all portfolio managers.
What’s more, the number of young investors has increased dramatically over the past decade.
In 2012, the median portfolio manager age was 50, according the Vanguard group.
In 2015, that number jumped to 53.3.
By 2022, the share of young investment managers was projected to rise to 49.6 percent.
In the next two years, they’ll increase to 54.2 percent and 55.2, respectively.
Millennials have also been more successful at saving than their elders.
They’re now saving at the highest rate in their age cohort.
For instance, according a recent report by the National Association of Individual Investors, between 2007 and 2016, young adults who have invested in mutual funds increased their net worth by nearly $10,000, or more than 6 percent.
Millennials are also saving more than their parents did in the early 1990s, when the savings rate was just 7.5 percent, according data from the Federal Reserve Bank of New York.
Now, it’s about 11.4 percent, or about the same as it was in 2000.
But this year’s report shows that saving is also on the rise among the baby boomer generation.
Between 2013 and 2018, young households in their 20s and 30s have seen their net asset value (NAV) increase by an average of nearly $20,000.
That’s the largest growth in NAV for that age group in nearly a decade.
And young adults have been saving more in this time period than their peers over the age of 50.
In 2022, those saving accounts were worth $28,400, while the assets they held in them were worth about $21,000 — an increase of nearly 10 percent.
“The amount of money we’re saving is growing exponentially,” said Brian Wiesner, a senior vice president at the National Federation of Independent Business.
“We’re saving a lot of money for our retirement, and our parents’ savings are growing exponentially.”
The median net worth for young adults increased from $33,600 to $38,900 between 2013 and 2017.
The average net worth of young adults was up more than $2,400 between 2013 to 2017, according for Vanguard.
And the median net wealth for young investors in 2022 was $1.1 million, up from $1 million a year earlier.
What makes these young investors so successful?
Millennials are more financially disciplined than their older peers.
Their average net wealth was $4,300 less than that of their parents, but they were more disciplined than older Americans.
In 2019, the top 5 percent of millennials had an average net asset worth of $31,500.
That number was $9,500 higher than the median for their age group.
For example, the $28-million net worth gap was $7,800 for millennials, $8,000 for their parents and a median of $13,800 among those under age 35.
“Our millennials are very financially savvy,” said Jim Prentice, senior vice chairman and chief investment officer of Vanguard.
“They have the ability to leverage their wealth, so they have more wealth, they have better diversification.”
And they’re making the most of their wealth.
Millennials’ net worth increased by $10 million between 2014 and 2017, while their parents’ net assets increased by almost $1 billion.
“What you have in our millennials is a generation that is willing to take on risk, and it’s been a lot more risk-averse in their investment decisions than older generations have been,” said Prentice.
The rise of millennials’ money has made the stock market a safer investment.
It can take years to build up a portfolio of assets, but by the time a person turns 60, they can be making more than they could at the start of their career.
In 2018, the S&P 500 index reached an all-time high of 1,906.57, up 2.2 points from 2017.
But that’s still only a little over one-third of the S & P 500’s all- time high in 2019, which was a record high of 954.62.
This year, however, the Nasdaq composite index was up about